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Boing US Holdco Inc. Acquires Development Site In Voorhees For $1.15M

Property Image
SOLD
$1,150,000
Adam Rose
Kevin Healey

New Jersey

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Development Site
Sold 09/01/2023
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Property Image
SOLD

Boing US Holdco Inc. Acquires Development Site In Voorhees For $1.15M

121 NJ-73 Voorhees Township, NJ 08043, USA

See Similar Deals
Development Site
Sold 09/01/2023
Adam Rose
Kevin Healey
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Development Site
Transaction Type:Sale

Rose Commercial Real Estate has sold nearly 2 acres of land in Voorhees, New Jersey, for $1.15 million. The prime location on Route 73, near Virtua Hospital, will be the future site of a "stay in your car" car wash service called Take 5.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $1,150,000
  • Address: 121 Route 73 South
  • Market: Voorhees
  • Buyer: Boing US Holdco Inc.
  • Seller: Medical Properties Route 73 LLC
  • Broker: Adam Rose (Rose Commercial Real Estate), Kevin Healey (Tri State Commercial)
  • Acres: 2

Adam Rose from Rose Commercial Real Estate and Kevin Healey from Tri State Commercial facilitated the sale of the property. The transaction involved Boing US Holdco Inc. as the buyer and Medical Properties Route 73 LLC as the seller. The deal attracted attention due to the prime location and the potential for a "stay in your car" car wash service.

Players

Adam Rose
Adam Rose
4 deals$5.4M volume
BROKER
Kevin Healey
Tri State Commercial Realty
Kevin Healey
1 deal$1.2M volume(215) 300-9688
BROKER

Details

SOLD
IMAGE: Adam Rose & Kevin Healey DATE: 09/01/2023 ADDRESS: 121 Route 73 South MARKET: Voorhees ASSET TYPE: Development Site ~ ACRES: 2 BUYER: Boing US Holdco Inc. SELLER: Medical Properties Route 73 LLC BROKER: Adam Rose - Rose Commercial Real Estate (@RoseCommercialRealEstate); Kevin Healey - Tri State Commercial (@TriStateCommercial) SALE PRICE: $1,150,000 NOTE: Rose Commercial Real Estate has sold nearly 2 acres of land in Voorhees, New Jersey, for $1.15 million to Boing US Holdco Inc. The prime location on Route 73, near Virtua Hospital, will be the future site of a "stay in your car" car wash service called Take 5.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$61,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04